Janet Yellen's testimony in front of the House Financial Services Committee came and went without much fanfare. Among other things, she said if the economy shows more improvement, the Fed will continue to scale back its monthly bond purchases. She also said "the recovery in the labor market is far from complete" and that monthly asset purchases "are not on a preset course."

Meanwhile, iRobot (IRBT) broke out in heavy volume, rising 16%. Quarterly results have been choppy of late but investors liked the look of its Q4 report. Profit surged 1,000% from a year ago to 11 cents a share. Sales rose 25% to $126.3 million.

After the close, watch for earnings from network security firm FireEye (FEYE). It's been showing relative strength ahead of the results. It's not profitable yet, but the company shows strong revenue growth in recent quarters. Revenue this time around is expected to rise 77% from a year ago to $56.1 million.

Online travel firm TripAdvisor (TRIP) is also scheduled to report. Shares gapped up on Friday after peer Expedia (EXPE) reported strong earnings. TripAdvisor has been consolidating gains since November. Its current pattern has the look of a double-bottom with a potential entry at 86.93, 10 cents above its Jan. 13 intraday high.

Buyers were back in the market Tuesday after Fed Chairwoman Janet Yellen reassured markets the Fed will continue its accommodative stance.

The Dow Jones industrial average led the way, rising 1.1%. Boeing (BA) and Chevron (CVX) were the strongest-performing blue chips, up close to 2% each. The Nasdaq and S&P 500 gained 0.9%. The S&P 500 showed noteworthy technical action, rising above its 50-day moving average.

Janet Yellen's testimony in front of the House Financial Services Committee came and went without much fanfare. Among other things, she said if the economy shows more improvement, the Fed will continue to scale back its monthly bond purchases. She also said "the recovery in the labor market is far from complete" and that monthly asset purchases "are not on a preset course."

Meanwhile, iRobot (IRBT) broke out in heavy volume, rising 16%. Quarterly results have been choppy of late but investors liked the look of its Q4 report. Profit surged 1,000% from a year ago to 11 cents a share. Sales rose 25% to $126.3 million.

After the close, watch for earnings from network security firm FireEye (FEYE). It's been showing relative strength ahead of the results. It's not profitable yet, but the company shows strong revenue growth in recent quarters. Revenue this time around is expected to rise 77% from a year ago to $56.1 million.

Online travel firm TripAdvisor (TRIP) is also scheduled to report. Shares gapped up on Friday after peer Expedia (EXPE) reported strong earnings. TripAdvisor has been consolidating gains since November. Its current pattern has the look of a double-bottom with a potential entry at 86.93, 10 cents above its Jan. 13 intraday high.

See Also

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